If you were to buy a house locally at the current median price of $1,040,000 and had 10% deposit, then you would need a mortgage for $936,000. This is a very large mortgage compared to state.
The average suburb population growth in WA has been 2893.52% since 2006, so the 2899.00% population change in SOUTH FREMANTLE 6162 is above average.
SOUTH FREMANTLE 6162 homeowners are paying around 43.97% more than they were at the time of the 2006 census. This means local mortgage brokers’ clients are having to pay more than the median average increase of WA which is 53.23%.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in SOUTH FREMANTLE, 6162 should have seen some difference. While the latest census median annual household figure income is now $73,164, it was $55,723 back in 2006, which is a net increase of $17,440 Subtract from that the median mortgage repayment increase of $8,004 and a mortgage broker’s clients could be up to $9,436 better off each year even without factoring in mortgage rate cuts.